Online job finder's profit up by 18%

Zhaopin Ltd, China's leading job recruitment services website, announced on Thursday that it generated 350 million yuan in revenue in the first quarter of the 2016 financial year, up 19 percent year-on-year.

Net profit in the same period reached 70.7 million yuan, an increase of 18 percent compared with the previous year. Its online recruitment business rose by 23.7 percent on an annual basis, reaching 312.7 million yuan.

The financial report showed that revenue, net profit and online recruitment business income all achieved a year-on-year double digit growth for six quarters in a row since listing on the New York Stock Exchange in June last year.

It signed a strategic cooperation agreement with ZhongAn Insurance - China's first Internet-based insurance firm the same day, aiming to co-develop Internet-based financial products targeting graduates, white-collar workers and high-caliber talents, especially those in small- and medium-sized companies.

The registered users on Zhaopin.com increased by 13.4 percent compared to a year earlier, exceeding 100 million.